Jason Simpkins
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Will Citigroup Lose its Top Energy Trader?
By Jason Simpkins Managing Editor Money Morning With a deadline looming for financial firms that received government bailout funds to submit their 2009 compensation plans to Treasury Department's pay czar, there's a possibility that Citigroup Inc. (NYSE: C) will lose the head of its secretive and extremely profitable energy trading arm. The Wall Street Journal [...] -
Hot Stocks: Barnes & Noble Attempts to Stave Off Extinction by Butting Into the E-Book Market
By Jason Simpkins Managing EditorMoney Morning MP3 and audio downloads wreaked havoc on the music industry, siphoning revenue away from record labels and driving many traditional brick-and-mortar music retailers out of business. Now, publishers and retail bookstores are standing at the precipice of a similar fate as digital readers – like Amazon.com Inc.'s (Nasdaq: AMZN) [...]
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Four Ways to Profit if Bernanke's 'Exit Strategy' Backfires
By Jason Simpkins Managing Editor Money Morning After more than a year of lax monetary policy and direct capital infusions, U.S. Federal Reserve Chairman Ben S. Bernanke has finally outlined an "exit strategy" that he says will lead to the "smooth and timely" withdrawal of monetary stimulus and keep inflation at bay. However, analysts say [...]
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China Tightens Grip on Africa's Energy Resources with Stake in Offshore Field
By Jason Simpkins Managing Editor Money Morning CNOOC Ltd. (NYSE ADR: CEO) and Sinopec Corp. (NYSE ADR: SHI) have agreed to buy a 20% stake in an oil field off the shore of Angola for $1.3 billion, illustrating China's persistent attempts to acquire resources for its economic expansion at a time of weakness for many [...]
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Market Recoils as CIT Edges Toward Bankruptcy
By Jason SimpkinsManaging EditorMoney Morning The probably bankruptcy of CIT Group Inc. (NYSE: CIT) could have major implications on the retail and manufacturing sectors this week, as many related companies are reliant on the financing giant. With options running out over the weekend, CIT advisors began preparations for a bankruptcy filing. As of Sunday, JPMorgan [...]
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Citigroup and Bank of America Post Second-Quarter Profit but Will Likely Struggle in the Second Half
By Jason SimpkinsManaging EditorMoney Morning Citigroup Inc. (NYSE: C) and Bank of America Corp. (NYSE: BAC) each topped estimates with second-quarter profit. But these earnings & like those of Goldman Sachs Group Inc. (NYSE: GS) and JPMorgan Chase & Co. (NYSE: JPM) & belie the sharp deterioration in the banking sector that will pose a [...]
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JPMorgan, Goldman Sachs Profit Surge is an Accounting Mirage, Not a Sustainable Sector Trend
By Jason Simpkins Managing Editor Money Morning It takes more than two to make a trend. JPMorgan Chase & Co. (NYSE: JPM) yesterday (Thursday) became the second major U.S. investment bank – following Goldman Sachs Group Inc. (NYSE: GS) – to this week report windfall profits for the second-quarter. That’s helped fuel a four-day advance [...]
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With Inflation on the Horizon, Gold Prices are Ready to Rally
By Jason Simpkins Managing Editor Money Morning With the global economy on the mend, could gold be gearing up for another record-setting run? It sure looks that way. After peaking north of the $1,000 per ounce price level last year, gold hit a stumbling block when deflationary fears in the world's largest economy sucked the [...]
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China Uses G8 Summit as Forum for Currency Debate
By Jason Simpkins Managing Editor Money Morning With a global stage at this week's Group Eight (G8) summit in L'Aquila, Italy, China again took the opportunity to push for global currency reform, arguing that the dollar's position as the world's main reserve currency is a source of instability. "We need to improve the international monetary [...]
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Speculators Feel the Heat as Demand for Tighter Regulation of Oil Contracts Rises
By Jason Simpkins Managing Editor Money Morning The Commodity Futures Trading Commission (CFTC) may impose stricter limits on commodities speculators who are believed to be behind the main force behind wild swings in the futures markets over the past two years. The investigation has the support of politicians seeking greater price stability for the global [...]
